https://www.taxtmi.com/caselaws?id=349160 The ITAT allowed the appellant's appeal, setting aside the disallowance of excise duty amounting to Rs. 50 lakh for the assessment year 2006-07. The case was referred back to the Assessing Officer for re-examination based on the previous ITAT order for a similar issue in another assessment year. The ITAT emphasized distinguishing between compensatory and penal nature of payments, allowing deduction for compensatory amounts. The appellant was granted an opportunity to present their case, and the decision was pronounced on October 4, 2017, for statistical purposes. en-us Wed, 04 Oct 2017 00:00:00 +0530 Sat, 07 Oct 2017 09:00:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349160 The ITAT allowed the appellant's appeal, setting aside the disallowance of excise duty amounting to Rs. 50 lakh for the assessment year 2006-07. The case was referred back to the Assessing Officer for re-examination based on the previous ITAT order for a similar issue in another assessment year. The ITAT emphasized distinguishing between compensatory and penal nature of payments, allowing deduction for compensatory amounts. The appellant was granted an opportunity to present their case, and the decision was pronounced on October 4, 2017, for statistical purposes. Case-Laws Income Tax Wed, 04 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349160